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Jammu and Kashmir, one of India’s most beautiful states, lies in the extreme north of the country. Agriculture is the mainstay of the state’s economy as 80% of the population is depended on it.

Land area: 222,236 sq. km.
Population: 7.7 million
Capital: Srinagar
Per Capita Income: Rs 4,244
Inflation Rate: 10.8%

There are a number of new incentives to some industries, other than tourism. J&K has the lowest power tariff in the country and high rate of growth in generation. The law and situation has resulted in slow development of the state. The connection with the rest of the country, especially through railways and telecommunications, is relatively poor. The urbanization process to has been slow.

Incentives:

• 5-year Central tax holiday for all new industrial units in the state
• 30% capital investment subsidy (up to Rs 3,000,000) for all new industrial units in the state
• Outright investment subsidy of Rs 6,000,000 for new units investing Rs 25 crore or more
• 5% rebate (up to Rs 1,000,000 per year) on interest on working capital loans for new units
• 60% subsidy (up to Rs 50,000) on insurance of new projects in the Category B area
• Sales tax exemption until March 31, 2000 for small-scale units
• 50% rebate on the cost of training managers and executives in the tourism industry
• Stamp duty exemption on mortgage deeds in favor of state FIs/scheduled commercial banks